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June 3, 2004


VIA EDGAR

Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549

Re:      Liberty All-Star Equity Fund (the Fund")
         File Nos.  333-113386 & 811-4809


Ladies and Gentlemen:

Pursuant to the  requirements  of Rule 497(j) under the  Securities Act of 1933,
please accept this letter as certification  that the Prospectus and Statement of
Additional  Information dated June 3, 2004 for the Fund do not differ from those
contained  in  Pre-Effective  Amendment  No. 1 (the  "Amendment")  to the Fund's
Registration  Statement on Form N-2/A. The Amendment was filed electronically on
June 3, 2004 (Accession Number: 0000021847-04-000165).

Very truly yours,

LIBERTY ALL-STAR EQUITY FUND



/s/TRACY S. DIRIENZO
---------------------
   Tracy S. DiRienzo
   Assistant Secretary